Report Summary 1. Report Industry Investment Rating - No information provided in the given content. 2. Report Core View - The report presents the Q&A session from the analyst meeting of Heyuan Gas, covering various aspects such as product production, project progress, and corporate finance [24][25][26]. 3. Summary by Relevant Catalogs 3.1 Research Basic Situation - The research object is Heyuan Gas, belonging to the chemical products industry. The reception time was on June 12, 2025. The company's reception staff included the board secretary Li Jipeng, financial director Zhao Xiaofeng, independent director Wang Xiaoning, and securities affairs representative Cui Ruoqing [17]. 3.2 Detailed Research Institutions - The reception object types included network investors and others [20]. 3.3 Research Institution Proportion - No information provided in the given content. 3.4 Main Content Data - **Product Production**: The company does not produce ethane and butane. It mainly produces silicon - based, fluorine - based, and hydrocarbon - series electronic specialty gases. In the Yichang Industrial Park, high - purity nitrogen trifluoride, tungsten hexafluoride, and hexafluorobutadiene are planned, with nitrogen trifluoride and tungsten hexafluoride in trial production and set to start verification and import work in Q3 [24]. - **Production Capacity and Output Value**: Based on planned and built product capacities and current market prices, the output value of the built - in capacity of the Qianjiang Industrial Park is about 1.2 - 1.5 billion yuan, and that of the first - phase built - in capacity of the Yichang Industrial Park is about 2.5 - 4 billion yuan [25]. - **Fixed - Increase Progress**: The fixed - increase matter is progressing normally, and the company is currently implementing the capital plan as required [25]. - **Dividend Plan**: The company will comprehensively consider based on securities laws and regulations, the 2024 - 2026 shareholder return plan, and current operating conditions, with details subject to public disclosure [25]. - **Product Supply**: The company has good communication with many silicon - carbon anode enterprises. The second - phase silane project will adjust the construction progress according to market demand and is planned to be put into production next year. Fluorine - based electronic specialty gases are mainly used in semiconductor and panel enterprises [25]. - **Second - Phase Project**: The Yichang Industrial Park's second - phase project has planned 15,000 tons of electronic - grade silane, silane storage and filling facilities, and electronic specialty gas precursor projects. The silane storage and filling facilities have been completed, and the progress of the second - phase project will be adjusted according to the stable production progress of the first - phase products and market demand [26].

Group 1: Report Overview - The research object is Linktech Technology, belonging to the optoelectronic industry, and the reception time was on June 12, 2025 [17] - The listed company's reception staff includes the chairman and general manager Zhang Jian, deputy general manager and board secretary Xiao Ming, financial director Luo Nan, and independent director Yu Yumiao [17] Group 2: Detailed Research Institutions - The relevant personnel of the institutions are others, and the reception object is all investors who participated in the performance explanation questions online [20] Group 3: Main Content - Regarding the expected release time of the semi - annual report, it is currently not in the reservation disclosure period [24] - The company's development prospects are good [24] - If there are plans for dividend distribution and bonus share issuance, the company will fulfill information disclosure obligations in a timely manner [24] - The company will strictly follow the relevant provisions of accounting standards for the provision and reversal of inventory impairment [24] - The company will plan production capacity according to business development and market expansion needs to meet market and customer demands [25] - The company's current orders are normal, and performance should be followed in relevant regular reports and announcements [25] - The company has not disclosed relevant repurchase plans [25] - Semiconductor - classified communication equipment, optical modules, etc. are exempt from reciprocal tariffs, and the bearing of tariff costs is related to trade terms [25] - The company's current production and operation are normal, and it will pay continuous attention to tariff policy changes and strengthen communication and coordination with customers [25] - The company's production and operation in the second quarter are normal, and specific details should be followed in subsequent regular reports [26] - The Malaysian base of Linktech Technology is operating normally, with increasing shipments and expanding production capacity [27] - The company's 1.6T products are in the sample testing stage [27]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The company's profitability is continuously improving, with the 2025 Q1 net profit attributable to shareholders reaching 44.497 million yuan, a year - on - year increase of 371.23% [26]. - The company will adjust resource allocation, increase investment in pet drug R & D and market channel construction, and regard the pet drug sector as one of the key development directions [27]. - The company will continue to increase R & D and technological innovation investment, deepen the "raw material - preparation integration" strategy, improve the pet business layout, and actively explore overseas markets [27][30]. 3. Summaries by Relevant Catalogs 3.1. Research Basic Situation - Research object: Huisheng Biotechnology [16] - Industry: Pesticides and veterinary drugs [16] - Reception time: June 12, 2025 [16] - Reception personnel: Chairman Zhang Weiyuan, Deputy General Manager and Financial Controller Yang Kaijie, Board Secretary Wang Qingfeng [16] 3.2. Detailed Research Institutions - Reception object: Investors participating in the 2025 collective investor reception day event of listed companies in Hubei Province and the 2024 annual performance briefing online [19] - Reception object type: Others [19] 3.3. Main Content Data - **Export of raw materials**: In 2024, the company's raw material exports achieved sales revenue of 63.3903 million yuan (excluding trade exports), a year - on - year increase of 155.71%, covering more than 20 countries and regions. In Q1 2025, the export revenue decreased by 10.92% quarter - on - quarter compared with Q4 2024. The company is actively exploring overseas markets, and the current raw material export business is normal [23][29]. - **Vietnam project**: The Vietnam production base has obtained production approvals and veterinary drug sales licenses for some products, mainly produces chemical preparation products, with a designed annual production capacity of 1,500 tons [23][25]. - **Pet business**: The company's pet business has formed a relatively complete product matrix, with a small proportion of revenue but maintaining a good growth trend. The company will increase investment in this area, use a combination of online and offline methods for business expansion, and its pet drugs participated in some 6.18 activities [23][25][27]. - **Product price**: The price of tylosin is affected by many factors, and its future price change is uncertain. The change in raw material product prices will have a certain impact on the company's operating performance, but the price change is also uncertain [23][25]. - **Raw materials**: The company's self - produced raw materials are tiamulin and tylosin, and it does not produce tiamulin and oxytetracycline raw materials [26]. - **Convertible bond redemption**: The company's early redemption of convertible bonds is mainly for three reasons: high interest rates affecting net profit, improved profitability, and the need to create conditions for continuous dividends [26]. - **Company development plan**: The company will continue to increase R & D investment, focus on new veterinary drug development, deepen the "raw material - preparation integration" strategy, improve the pet business layout, and actively explore overseas markets [27][30].

Group 1: Report General Information - Reported company: Jingce Electronics [16] - Industry: Instrumentation [2] - Research date: June 12, 2025 [16] - Company representatives: Liu Binghua (Director, Secretary of the Board, Deputy General Manager), You Lijuan (Financial Controller) [16] Group 2: Research Institutions - Institutions involved: Investors participating in the 2025 Hubei - listed companies' investor collective reception day and 2024 annual performance briefing via Panorama Network [19] Group 3: Core Views - The company has significant advantages in semiconductor and display detection fields, with leading - position core products and growing orders [23][30] - The company aims to optimize business structure, focus on semiconductor and other advantageous fields, and promote the domestic substitution process of semiconductor detection equipment [33] Group 4: Company's Business Advantages Semiconductor Detection - Core products such as film - thickness series products, OCD equipment, electron - beam equipment, semiconductor silicon wafer stress measurement equipment, and bright - field optical defect detection equipment are in the leading position in the domestic industry [23][30] - Some products have obtained repeat orders from advanced - process customers, and others are under R & D, certification, and expansion [23][30] Display Detection - The company can provide detection systems for all major processes of flat - panel displays and has the advantage of providing integrated solutions based on "optics, mechanics, electricity, computing, and software" [23] Group 5: Overseas Business - In 2024, overseas revenue was 264,074,809.90 yuan, accounting for 10.30% [25] - Main products are detection equipment in the display and new - energy fields, mainly distributed in Vietnam, South Korea, the United States, etc. [25] Group 6: Equity Acquisition - The company plans to acquire a 4.825% stake in Shanghai Jingce through public tender, which is beneficial for optimizing the strategic layout and promoting semiconductor business development [25] Group 7: Shareholding in Shiya Technology - The company holds 6.0201% of Shiya Technology's shares, aiming to optimize the layout in the new - display technology field and expand business scope [26][27] Group 8: Company Performance in 2024 - Revenue was 2,565,073,000 yuan, a year - on - year increase of 5.59% [30] - Net profit attributable to shareholders was - 97,598,500 yuan, a year - on - year decrease of 165.02% [30] - Total assets at the end of the reporting period were 10,076,306,800 yuan, a 9.27% increase from the beginning [30] - Net assets attributable to shareholders were 3,463,816,800 yuan, a 6.52% decrease from the beginning [30] - R & D investment was 730,617,700 yuan, a 10.78% increase year - on - year, with semiconductor detection R & D investment increasing by 32.76% [30] Group 9: Order Status - As of April 25, 2025, total outstanding orders were about 2.844 billion yuan, including 764 million yuan in the display field, 1.668 billion yuan in the semiconductor field, and 412 million yuan in the new - energy field [32] Group 10: Future Plans - Optimize and adjust the business structure, focusing on semiconductor and other advantageous fields [33] - Increase R & D investment in the semiconductor field to promote domestic substitution of high - end detection equipment [33] - Promote R & D innovation in the new - energy field, expand overseas markets, and drive business growth [33]

Group 1: Report Overview - The report is about the analyst meeting of HC Semitek on June 12, 2025, in the optoelectronics and photonics industry [1][2] Group 2: Research Basic Information - The research object is HC Semitek, belonging to the optoelectronics and photonics industry, with a reception time of June 12, 2025. The company's reception staff includes Vice President and Chief Financial Officer An Peng, and Vice President and Board Secretary Zhang Chao [16] Group 3: Detailed Research Institutions - The reception object is investors who participated in the 2025 online collective reception day for listed companies in Hubei Province through Panorama Network, and the type is others [19] Group 4: Core Views - HC Semitek is a globally leading LED chip supplier, ranking in the first echelon of the domestic chip industry, aiming to become a global compound semiconductor innovation leader [23] - The company is one of the earliest domestic chip enterprises to conduct Mini/Micro LED technology R & D, with mature chip design, epitaxial growth, and wafer manufacturing capabilities in the Micro LED field, and is actively collaborating with upstream and downstream partners in the industry chain to promote technological innovation [24] - In the AI glasses field, the company provides solutions according to different customer needs and product positioning, and is currently in the stage of performance and yield improvement [25] - Since BOE became the controlling shareholder, the company has introduced BOE's management system, and the overall gross profit margin has increased by 6.89% compared to 2023. The company aims to turn losses into profits and will continue to promote the arrival of the profit inflection point through cost - reduction and efficiency - improvement, refined operation, technological upgrading, and market expansion [26][27] - The company has established a flexible and efficient production capacity management mechanism, and currently, except for planned equipment maintenance, each production line is operating at full capacity, with a production capacity utilization rate at a relatively high level in the industry [28]

Group 1: Report General Information - The research is about Ligong Optoelectronics Co., Ltd. in the instrument and meter industry, with a research date of June 12, 2025 [1][2][17] - The listed company's reception staff includes the Chief Financial Officer and the Secretary of the Board, Xue Zhengguo [17] Group 2: Research Institution Information - The participating research institutions include investors' online questions [2] - The detailed research institutions involve the reception of investors' online questions, with 2 other types [21] Group 3: Main Content of the Research - Regarding the applicability of fiber optic sensor technology to humanoid robots, the technology can realize real - time perception of the robot's motion state, but it is not currently used in humanoid robots [25] - The company has shareholder number reports every ten days and will disclose relevant shareholder information in regular reports. Investors can also inquire through the interactive platform [25] - The company purchased relevant products from Yushu Technology for project needs [25] - The company's second - quarter business situation will be subject to the "2025 Semi - annual Report". The current macro - economic situation has both challenges and opportunities for the company [26] - The construction of the smart road surface system project is postponed. The company is prudent in equipment procurement and project construction to improve the quality of fundraising projects and the efficiency of fund use [26] - The company focuses on three main business segments: smart structure, smart fire protection, and smart security, and will gradually expand new application areas in the future [26] - The company is actively exploring new application scenarios in addition to the existing markets [28]

Group 1: Research Basic Information - The research object is Yidao Information, and the reception time is June 12, 2025. The listed company's reception staff includes Deputy General Manager and Board Secretary Qiao Minyang, and Investor Relations Specialist Xie Die [17] Group 2: Detailed Research Institutions - The reception objects include Guotai Haitong (securities company), Chuangjin Hexin (fund management company), and Everbright Yongming (others) [18] Group 3: Company and Product Introduction - Yidao Information is an intelligent electronic product and solution provider focusing on product definition and R & D design. Its main businesses are divided into rugged intelligent terminals and consumer - class intelligent terminals [24] - The rugged intelligent terminals include rugged laptops, rugged tablets, rugged handheld terminals, and various rugged industrial control products, which are applied in scenarios such as intelligent manufacturing, transportation, energy exploration, and public utilities [24][26] - The company's consumer products include PCs, tablets, AIoT, and XR/AI wearable products, serving brand and enterprise customers and providing full - process services [25] - The company's Yidao Digital (Yidao Research Institute) focuses on artificial intelligence, perception technology, and spatial intelligence [25] - Three - proof rugged products have waterproof, dustproof, and anti - fall features, designed for harsh environments and complex working conditions. The company's "ONERugged" brand offers products and services globally, and the company will focus on key areas and diversify its market layout [26]

Group 1: Research Basic Information - Research object: Dier Laser [17] - Industry: Special equipment [2][17] - Reception time: June 12, 2025 [17] - Listed company reception staff: Director and Deputy General Manager Duan Xiaoting, Board Secretary and Financial Controller Liu Zhibo [17] Group 2: Detailed Research Institutions - Reception object: Investor online questions, others [20] - Reception object type: Others [20] - Institution - related personnel: Not specified [20] Group 3: Main Content Company's Business and Orders - The company has new laser technology coverage and order achievements in TOPCon, XBC and other laser technologies [24] - The company's production and operation are normal, and order contracts are being fulfilled normally. It mainly adopts the "production based on sales" mode, and the capacity utilization rate has certain flexibility [28] Company's Financial Performance - In the first quarter of 2025, the company achieved an operating income of 561 million yuan, a year - on - year increase of 24.55%; the net profit attributable to shareholders of the listed company was 163 million yuan, a year - on - year increase of 20.76% [26] Company's Investor - related Measures - The company has established a long - term market value management mechanism, including improving operating quality, equity incentives, cash dividends, share repurchases, enhancing information disclosure quality and transparency, and strengthening investor communication [26] - Since its listing in 2019, the company has conducted cash dividends every year, with a cumulative cash dividend of 507 million yuan. In 2024, the company announced a cash dividend of 106 million yuan on June 5, 2025 [26] - In 2024, the company repurchased 1,062,460 shares through the repurchase special securities account by centralized bidding trading, with a total transaction amount of 50,034,572.20 yuan (excluding transaction fees) [27]

Group 1: General Information - The research object is CSSC Emergency, belonging to the special equipment industry, and the reception time was on June 12, 2025. The company's chairman Wang Xiaofeng and the company's chief accountant, general legal counsel, and board secretary Jia Zhihao received the investors [16] - The investors participated in the 2025 Hubei listed companies' collective investor reception day event through the panoramic network (https://rs.p5w.net) [19] Group 2: Main Research Content Impact of Nuclear Energy Construction - The acceleration of nuclear energy construction will have a positive impact on the performance of the company's subsidiary, Xi'an Shanchai Heavy Industry Nuclear Emergency Equipment Co., Ltd., which is engaged in the R & D, design, production, installation, technical consultation, maintenance, sales, and technical services of nuclear power plant emergency diesel generator sets and accessories [23] Business Improvement Measures - The company will focus on its core business, develop the market, and provide solutions and products. It will drive innovation, conduct research on new scenarios, new energy, intelligence, and unmanned technologies. It will focus on value creation, control costs, reduce inventory and accounts receivable, and improve asset quality and profitability [23] Military Business and Capacity - The recovery of the military business will help improve the company's performance. The company's current production capacity is stable and can meet production needs. It will adjust capacity input and optimize capacity layout according to market demand in the future [24] AI - Enabled R & D - The company attaches great importance to the intelligent development of equipment, conducts R & D on unmanned intelligent emergency rescue equipment, and will accelerate the market launch of new products such as a certain type of rescue robot [25] Inland Shipping Business - The company focuses on the emergency industry, with two main lines of emergency transportation engineering and flood - prevention and rescue equipment, covering four transportation fields of water, land, railway, and aviation, and has not yet laid out the inland shipping field [25] Shareholder Number - As of June 10, 2025, the company's total number of shareholders was 50,871 [26] 2025 Business Goals - The company's 2025 work policy is "combining speed and stability, driving by innovation, and actively seeking change". It will strengthen technological innovation and market development, deepen internal management, and improve profitability [27] Company Positioning - The company focuses on the emergency industry, with two main lines of emergency transportation engineering and flood - prevention and rescue equipment, providing products, services, and solutions for military operations, government disaster relief, and enterprise engineering construction [27] Unmanned Product Plan - The company is actively developing unmanned intelligent emergency rescue equipment and will accelerate the market launch of unmanned intelligent new products [28] Investigation Progress - The company is actively cooperating with the regulatory authorities' investigation of the case, has not received a conclusive opinion or decision, and will disclose information in a timely manner. The company's production and operation activities are normal [29]

Group 1: Research Basic Information - The research object is Yibin Technology, and the reception time is June 12, 2025. The listed company's reception staff includes the board secretary, the chief financial officer Jiang Ze, and the securities affairs representative Xu Chao'er [16] Group 2: Detailed Research Institutions - The research institutions include Cailian Press, GF Securities, Zheshang Securities, Orient Securities, ShineWing, Shanzheng Investment, Zhuodai Capital, Tianzi Capital Season, Yingling Fund, Zhongzi Asset Ding, Lansheng Fund, Guqu Investment, Shangshi Bank, Tianrui Wanhe, etc. [17][18] Group 3: Main Content Company's Main Products - The company's main products are interior and exterior plastic parts, metal parts, automotive electronic parts, new energy special parts, and supporting molds, which are widely used in fuel - powered vehicles and new energy vehicles. Interior and exterior plastic parts include dashboards, sub - dashboards, pillar trims, etc.; metal parts are mainly small stamping parts; automotive electronic and new energy special parts include ceiling lamp assemblies, ambient lights, etc. [22] Progress of the Company's Fund - Raising Project Construction - In 2024, with the support of the local government, the company obtained a newly auctioned land plot and approved a motion to change the use of some raised funds from the initial public offering and postpone the project. A total of 452.3995 million yuan was used to invest in the "Annual Production of 9 million sets of automotive parts production line project". Two factory buildings have basically been capped, and the R & D building is under foundation construction [23] Progress and Future Market of the Company's Intelligent Laser Weeder - By the end of 2024, the company's R & D team had overcome key core technologies of multiple systems, iterated to the second - generation prototype, and obtained 2 invention patents. The R & D team will conduct serialized R & D to develop medium - and small - sized intelligent laser weeders [24] Company's Layout and Development in New Energy Products - The company actively explores the new energy vehicle market with its customer resources in the traditional automotive parts field. It has reached cooperation with BYD, ZEEKR, VOYAH, XPENG, Chery New Energy, IM Motors, etc. [24] Product Value and Application Scenarios of the Company's Investment in Fao Robotics - Fao Robotics focuses on R & D, manufacturing, and sales of self - developed collaborative robots with all components. Its products are used in 3D welding robots, mobile welding robots, and other application scenarios [24]